The retail expansion will begin in early 2005, immediately following the completion of a new four-level parking structure that will get under way in February 2004. The expansion area is currently surface parking lots located between Meier & Frank and Nordstrom.
"Washington Square continues to be one of our top performers in the country in terms of sales, shopper traffic and market growth," says Macerich COO David Contis. "We have been working for several years to develop an expansion plan that allows us to attract additional retailers, minimize disruption to the site and improve the quality of our customers' shopping experience."
Washington Square claims to have "more top-tier retailers under one roof than any other mall statewide." The mall is home to 122 stores including five department stores--the state's largest Nordstrom, one of the top-performing Meier & Frank stores in the country, JCPenney, Sears and Mervyn's. Other national retailers include Pottery Barn, Ann Taylor, Coach, Banana Republic, J. Crew, Abercrombie & Fitch, Talbots and Gap.
Located at 9585 SW Washington Square Rd., Washington Square is located in one of the state's fastest-growing areas with higher-than-average household incomes. The mall boasts $500 million in annual sales. Earlier retailer and shopper demand spurred a remodel and expansion in 1995, creating the state's largest Nordstrom, a new food court and 50,000 sf of additional retail space.
Washington Square senior property manager Jack Reardon tells GlobeSt.com the mall is nearly 100% leased, with just 7,000 sf available in three spaces, all of which were vacated by national retailers that recently declared bankruptcy. The mall first opened in 1974. "Since then, we've had a waiting list that includes some of the country's most popular retailers," says Reardon.
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